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ROYAL OAK, Michigan, Sept. 13, 2022 (GLOBE NEWSWIRE) — Graphex Technologies, LLC, a wholly owned subsidiary of Graphex Group Limited (collectively “Graphex”) (NYSE American: GRFX | HKSE: 6128) and a world leader in the intermediate processing of natural graphite for use in lithium-ion (Li-ion) electric batteries, announced today that it has entered into a non-binding memorandum of understanding (“MOU”) with Recharge Global Corp. (“ReCharge”), an innovative team supplying essential raw materials and critical minerals for the production of electric vehicle (EV) Li-ion batteries to the global EV industry.
ReCharge was founded by the team that developed one of the first Li-ion battery recycling technologies for North American OEMs, which has since become a leader in the industry. Through its experience within the Li-ion battery supply chain, ReCharge has developed government and industry relationships for the distribution of key materials from industrial processors and mines to provide OEMs and battery manufacturers a high-quality, high-volume and stable supply of materials. necessary for the production of Li-ion batteries.
Graphex has extensive commercial experience producing battery grade purified spherical graphite for the electric battery market, currently at a volume of 10,000 metric tons per annum (tpa) with plans to expand production to 40,000 tpa over the next three years. The intent of the MOU is to evaluate joint venture (JV) opportunities to strategically locate, construct and operate mid-term graphite processing facilities around the world to support global electrification of mobility . Whether it’s close to graphite mining resources or close to the point of use, namely battery gigafactories and electric vehicle OEMs in the United States and Europe. Graphex and ReCharge will leverage shared expertise in technology, design, financing, equipment procurement and plant operations, as well as established upstream and downstream relationships with stakeholders and key companies in the automotive and battery industries to provide a stable end-to-end supply of battery quality. anode material for electric vehicles.
An early focus of the collaboration will be the graphite opportunity in Australia, where the critical momentum for mineral mining and processing is rapidly accelerating. ReCharge and its affiliates in Australia have secured properties and/or property rights across the country, including the right of first refusal on several projects that have the potential to produce flake graphite concentrate in the 18 to 24 months of sufficient quality and quantity to sustain operation of intermediate graphite processing facilities for at least 10 years. ReCharge’s relationships with state and local governments and experience in building and operating production facilities in the electric vehicle supply chain, coupled with Graphex’s midstream production experience in transforming the graphite into battery anode material, are an ideal combination to rapidly accelerate end-to-end stability. – ultimately supplying battery-grade graphite to the electric vehicle industry for years to come.
“With this collaboration, Graphex seeks to bring together and leverage the unique professional talents, experience bases, financial resources and industry relationships of both organizations to accelerate our strategy to secure upstream raw material sources and continue to expand our global footprint of midstream production facilities.‘, said John DeMaio, CEO of Graphex Technologies. “As the electric vehicle industry is engaged in the truly Herculean task of electrifying mobility worldwide while simultaneously developing end-to-end domestic manufacturing capabilities, the best companies to rapidly effect this transformation are those that have proven experience and the will to innovate. Graphex has this “capability with agility” and the ReCharge collaboration will give us a broader reach.”
“Together, we can provide the mine-to-battery stability and localization of supply needed to meet the growing demand for batteries that will power the electric future of transportation. Said David Batstone, Founder and CEO of ReCharge. “Partnering with Graphex will be a force multiplier in this effort. Sources of raw materials seek to participate in midstream value creation and end users seek stability of supply – only Graphex/ReCharge can deliver on both fronts.”
Under the joint venture, the two companies will first seek to develop midstream production capabilities near sources of graphite in Australia. Beyond Australia, Graphex and ReCharge are exploring several additional upstream and downstream opportunities in North America and Europe to fill the huge – and growing – gap between localized supply demand for anode material in natural graphite and the current gaps in the supply chain to address it.
This progress in diversification and expansion comes on the heels of recent Graphex raw material sourcing announcements around the world, including the United States, Braziland Tanzania as well as actively seeking additional resources in Canada, Africa, Australia and Europe. The expanded range of upstream resources dovetails with Graphex’s progress on a new graphite intermediate processing facility under development in Warren, Michigan. This large-scale production and global expansion is part of a recent push by the US federal government to stabilize US electric vehicle and battery manufacturing supply chains. As mentioned recently in the New York TimesUS production and global sourcing from Graphex signifies a shift in the green tech industry to move out of areas of sovereign risk.
“We are proud to take the next step in globalizing our upstream and midstream footprint in collaboration with the industry experts at ReChargeadded DeMaio.
About GraphexGraphex Technologies is a wholly owned US subsidiary of Graphex Group Limited, a Cayman Islands company with principal and administrative offices in Hong Kong and US subsidiary in Royal Oak, MI. Graphex is focused on developing technologies and products to enhance renewable energy, specifically the enrichment of spherical graphite and graphene, key components for EV batteries and lithium-ion batteries for other use cases . Competent in the commercial deep processing of graphite, Graphex has extensive commercial experience in the production of battery grade purified spherical graphite for the power battery market, currently at a volume of 10,000 metric tons per annum (tpa) with l intend to expand production to 40,000 tpa over the next three years. With a strategy to expand its global operations to support energy transition and electrification efforts worldwide, Graphex is currently one of the leading suppliers of specialty spherical graphite to the electric vehicle and renewable energy industries and owns patents in areas such as products, production methods, machine design and environmental protection.
About ReChargerReCharge Global Corp. supplies key raw materials and minerals to European battery manufacturers for the production of lithium-ion batteries for electric vehicles. We distribute the materials used to form the anode, the cathode and for the electrolyte. ReCharge Global was founded by the team that developed lithium-ion battery recycling technology for North American OEMs that has become one of the industry leaders. With the accelerated adoption of electric vehicles and with near unprecedented global government support, we have identified the importance of a stable and secure supply of key minerals and materials for the developing battery industry. Leveraging our experience within the lithium-ion battery supply chain, we have developed relationships for the distribution of key materials from industrial processors and mines to provide our OEM customers and battery manufacturers with a high-quality, high-volume and stable supply of necessary materials. for the production of lithium-ion batteries
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Source: Graphex Group